A Step Backward Might Be a Good Thing

The investment management profession has strayed from its primary mission; instead of being the best managers we can be, too many people and firms are focused on gathering more and more assets. We need to reinstate what was good about the past, including fundamental valuation and the search for positive tracking error. And marry those concepts and methods to what's good about today, including the high caliber of people coming into the business. Finally, we should use our skills and resources to give something back to the world.